Guideline Value for Pattinathar Street

Pattinathar Street guideline value

The current guideline value of Pattinathar Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village, under the Ambattur SRO, classified as Residential Class II Type - I.

How the guideline value of Pattinathar Street has changed

The guideline value for Pattinathar Street has undergone several revisions since 2002. In 2002, the guideline value was Rs 135 per sq.ft. This increased to Rs 146 per sq.ft in 2003, marking an 8% rise. The value then saw a significant increase to Rs 400 per sq.ft in 2007, which was a 174% jump. By 2012, the value adjusted to Rs 1,500 per sq.ft, reflecting a 275% increase from the previous revision. However, this was followed by a decrease to Rs 1,005 per sq.ft in 2017, a drop of 33%.

In 2023, the guideline value rose to Rs 1,500 per sq.ft, and then to Rs 1,600 per sq.ft in 2024, representing a 7% increase. Overall, from 2002 to 2024, the guideline value has increased by 1,085%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Pattinathar Street's 2024 value below this median.

• Patel Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Patel Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Pasumpon Street: Rs 1,600 per sq.ft (2024)
• Pasumpon Salai (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Pasumpon Salai Gandhi Nagar: Rs 1,600 per sq.ft (2024)
• Periakannaiah Street: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Pattinathar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pattinathar Street?

The Sub Registrar Office that covers Pattinathar Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Oragadam

The guideline value is a critical factor in the registration process when buying or selling property in Oragadam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the registration process is transparent and reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Pattinathar Street?

The current guideline value of Pattinathar Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, starting from Rs 135 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 1,085% over the years.

What is the land classification of Pattinathar Street?

Pattinathar Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Pattinathar Street?

The Sub Registrar Office for Pattinathar Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Pattinathar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at a rate of 7%.